January 9, 2019 / 12:59 PM / 5 months ago

Constellation Brands profit falls 38 pct, cuts full-year outlook

Jan 9 (Reuters) - Constellation Brands Inc reported on Wednesday a 38.5 percent drop in third-quarter profit, burdened by higher freight and input costs, and cut its adjusted profit outlook for fiscal 2019.

It now expects earnings per share to be between $9.20 and $9.30, down from prior forecast of $9.60 to $9.75 per share.

Net income attributable to the company fell to $303.1 million, or $1.56 per Class A share, in the quarter ended Nov.30, from $492.8 million , or $2.45 per share, a year earlier. (Reporting by Nivedita Balu in Bengaluru; Editing by Arun Koyyur)

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